Response to a few points written today.
1) The Victory involvement is as one small member of the JV group that is financing the drilling of the first NM well for $750K. I don't know what options the JVs on #1 have in the future but I'm sure there will be additional opportunites to invest in new wells. The announcement Victory made about the drilling by late August was just an attempt to keep their shareholders up todate in general with how and what they are doing. Not a specific - they just watch.
2) Today news IMO is just Tom putting everyone on the same page about what is going to be happening down the road for the company. In this Hardeman Co. venture EDEX is also a minority player and so I'm sure they don't control the start dates, etc. but it is nice, again, to know what the companies plans are.
3) NM is moving ahead aggressively as getting things signed off as necessary, rig in place, etc. as possible when I last asked. I'm sure when they have a date we will hear of it. The PIP team has this as their next high priority and it is a partial reason why they put off the next step in the recent TX activity - which initially has been indicated that they would take another shot at that field as they are very confident of its good. Do they try a second place or redo the recent activity is a decision I'm sure the principals will evaluate and proceed on. Good deal for us.
PIP has been used in way over 100 new field/well opportunites with a high rate of success that appears to grow with every experience as they improve, cross analyze, and learn so we continue to improved our odds greatly IMO.
If you talk to the company about the things they are working on you will find the list is long and we have a lot of options for success IMHO.
Something else I was going to comment on but if I go back I'll likey mess up this one...LOL...hmmm...so guess I'd better try taking notes next time.
zagdad
